Haas FTMBA students Connie Dea, Tetsuro Ida, Toni Kraeva and Chris Reilly traveled to Spain to complete their Spring 2015 IBD project with Ozone Drive, an electric vehicle mobility service startup.
OzoneDrive Team in Spain
Team OzoneDrive was recently in Madrid in Spain to develop a business model testing program for a start-up called Ozone Drive. Ozone Drive (“OzD”) is an electric vehicle mobility service startup dedicated to accelerating the adoption of electric vehicles by allowing individuals to experience the thrill of driving an EV through a 100% electric car-sharing service. Our team was fortunate to work with OzD’s founder and CEO, Angel Samartino, who is a Haas alum of Class of 2010. He was even kind enough to show us around downtown Madrid and take us to lunch on our first day.
A bit more on Ozone Drive: In 2014, it began successfully prototyping its car-sharing concept in the Balearic Islands through a partnership with BMW and various luxury hotel brands. So far, OzD has raised over €80 thousand in seed funding and has been recognized as one of the 25 most exciting startups in Europe.
During our time working with OzD, our team tackled two strategic tasks: (1) building a crowdfunding campaign for OzD, and (2) developing a testing framework and accompanying tools to help OzD test and validate key elements of its proposed business model so that it appeal to potential investors. During our time in Spain, Team Ozone Drive focused on the latter.
Upon arriving in Spain, we immediately focused and dedicated our time to ensure that we would be able to deliver our deliverables at the end of our three weeks in-country. We broke down OzD’s business model using the Business Model Canvas, identified key questions that OzD needed to test to validate its business model, and created a roadmap for implementation. We then proceeded to develop survey and interview templates, design certain components of an Ozone Drive pilot, and conduct on-the-ground research to support our final recommendations.
On-the-Ground Research: Events and Interviews
While much of our time was spent engaging in many strategic discussions with OzoneDrive’s leadership team, we also leveraged our time in Spain to perform preliminary on-the-ground research. Our team participated in an event organized by a charging station at a local hotel in downtown Madrid to feel the vibe of growing EV industry in Madrid and extend our network by talking to attendants. Luckily for us, one of the attendants that we chatted with was with the charging station organization that organized the event. We were able to schedule a 1-on-1 interview with him, which led to many insights that we integrated into our final deliverable.
In order to test the survey and interview designs we developed prior to delivering them to the client, we conducted interviews with tourists in Madrid. We sought out subjects for our surveys and interviews at two of Madrid’s most popular museums, the Reina Sofia and the Prado. These interactions helped us strengthen our interview and survey questions to better capture the insights Ozone Drive desires to launch its business.
During our last week in Spain, we attended an event organized by Angel to close out the crowdfunding campaign that we helped him launch during the first half of our IBD project. The event gave us an opportunity to test-drive an electric vehicle from Ozone Drive’s fleet, which was the first time for most of us. It also gave us a chance to test our surveys and interviews on attendees.
Delivering the Final Product
In the end, our project was a success. We provided Angel with a testing package that included frameworks, interview and survey templates, and pilot test design recommendations to assist him in testing the key elements of his business model. Our final deliverables and recommendations were well received and OzD is now working to launch its pilot program based on our recommendation!
A long road lies between the current adoption rate of electric vehicle and mainstream popularity. Nonetheless, with Angel’s vision and our support, we believe that OzD can achieve its vision and accelerate the adoption of electric vehicles. In light of this, we titled our blog posting after a quote from Mahatma Gandhi, which goes as follows; First they ignore you, then they ridicule you, then they fight you, and then you win. Go OzoneDrive!
We were lucky and thrilled to work in Madrid, which, according to our classmates from Madrid, is “one of the liveliest and most enchanting capitals in all of Europe.” Madrid nights are certainly the stuff of legend and we took advantage of having both native classmates and many visiting Haasies in order to enjoy Madrid’s social scene.
Our description of Spanish adventures would not be complete without discussing the culinary experiences Madrid has to offer. Madrid is said to be evolving into one of the richest culinary capitals of Europe. We enjoyed jamon serrano, vinho tinto, bocadillo, huevos rotos and very special Gin & Tonic, which is in style in Madrid.
One of the highlight of our culinary experience was the lunch or happy hour at Mercado de San Miguel, which is the most popular market in Madrid. The market has millions of different tapas, which is a typical Spanish appetizer. With tapas and wine in hand, we definitely had a lot of fun while also learning a lot from our IBD experience. Cheers!